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Home Insurance

Irish survey highlights need to shop around

Tue, 14 Mar 2006

A survey of the Irish home insurance market has shown wide disparities in prices between different insurance providers.

The Irish Financial Services Regulatory Authority, which compared quotes for six properties, found that householders could reduce their home insurance costs by between €80 and €230 each year.

Even those with a restricted choice because of previous home insurance claims could still make significant savings, with the survey finding one margin between quotes of €105, demonstrating the importance of shopping around for the best deal.

"Many people do not get home insurance when they are renting and can be surprised when they find that their landlord’s insurance does not cover their personal possessions," said the Financial Regulator's consumer director, Mary O'Dea.

"It's important to make sure that you could replace your possessions if you had a fire or burglary."

Earlier this year the Irish Financial Regulator published a similar survey showing potential savings on life insurance of up to €5,000.

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